Two 1099-S

sammypaige
sammypaige Member Posts: 11 Level 2
edited February 4 in Filing my taxes

Hello. My spouse and I are filing separate and received two 1099-S at closing splitting the gross proceeds. I meet the exclusion requirements and she doesn’t. When inputing this on tax returns, do we also split the selling price, original purchase price, and other costs (commissions, improvements)?

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  • CoryF
    CoryF FreeTaxUSA Agent Posts: 138

    Hello,

    Yes, you split the selling price, original purchase price, and other costs 50% each if that is the way you want to allocate the Sales values.

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